letter of credit

1. N-COUNT A letter of credit is a letter written by a bank authorizing another bank to pay someone a sum of money. Letters of credit are often used by importers and exporters. (银行授权另一家银行付款的)信用状[商业]

2. N-COUNT A letter of credit is a written promise from a bank stating that they will repay bonds to lenders if the borrowers are unable to pay them. (银行为债券担保的)信用状[商业]

The project is being backed by a letter of credit from Lasalle Bank. 这个项目有拉萨尔银行的信用状支持。